I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
there may be many reasons for bitcoin not being accepted in countries that reject bitcoin because they may be afraid of high inflation of their local currency, and they may also be afraid bitcoin will be a fundraiser in crime and criminal fields that may be in my opinion 
Topic: Why bitcoin is not supported in some countries? - page 11. (Read 98470 times)
I think why did not support bitcoin in other country because government officials are not allowed to know yet what are the reason and on how to help the people.If they only knew what are the benefits of Bitcoin especially on their financial transactions. They also want to regulate Bitcoin so they can assure the public that they have the ability to secure their money.
Because the government is afraid because the transaction with bitcoin is not through their bank, and they wont get any cut or taxes by it, and the another reason that the paper money wont get any value or just dropping from time to time, in my opinion.
Same with my thoughts, I think Bitcoin is not supported in some countries because governments officials are not allowed to interfere on it. Maybe, they are threatened that people will keep choosing Bitcoin over fiat money.
Japan is an example of a country that has worked with the crypto movement and has exercised its governmental power to pass legislature with the aim of protecting its citizens from the inherent risks of crypto while also allowing the market to grow.
Because it has the ability to circumvent regulations and some govt's see it as a way to fund illicit activity. Ultimately, a government aims to govern--whenever something arises that aims to cause some sort of disruption, governments will usually react in one of two ways: They will outlaw this entity entirely or they will try to implement some sort of legislature that allows them to maintain some control over it.
Some countries were just afraid of what can Bitcoin can do. I think ignorance makes them afraid. If they only knew what are the benefits of Bitcoin especially on their financial transactions. They also want to regulate Bitcoin so they can assure the public that they have the ability to secure their money. It is also believed that some use it on their wrongdoings such as illegal activities and money laundering.
What we can do now is that we must spread awareness on how Bitcoin works. Some leading countries accept Bitcoin due to its innovative characteristics. I think that’s the reason why rich countries are rich. Because they can easily accept and adopt to changes especially when it comes to technology and how beneficial it is to their country.
What we can do now is that we must spread awareness on how Bitcoin works. Some leading countries accept Bitcoin due to its innovative characteristics. I think that’s the reason why rich countries are rich. Because they can easily accept and adopt to changes especially when it comes to technology and how beneficial it is to their country.
Actually, bitcoin is blocked by some rules in certain countries. That's why bitcoin is not supported. Bitcoin also still has a lot of risk to be accepted by a country to be an asset or payment system.
There are actualy just a few countries where Bitcoin is actualy supported in legal way. All others are just tolerating or ignoring it or it's banned. The reason is probably because there is stil dominant thinking that Bitcoin is something connected with illegal activities or tax evasion, or the attitude is that Bitcoin is threath to financial system or the simply just don't know what to do with it.
I am agree with you.Those country should know about the bitcoin,its advantage.They should know that bitcoin will help those country to develop.What do you think?Let me know...
Bitcoin can be used in some bad ways, like money laundering, buy some illegal drugs or terrorists use it purchase their weapons. so government has no choice but to banned their country to put away the risk of more people.
actually Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state
because every country has policies and regulations in managing their finances, some countries that do not give permission in the country because there are many other financial problems the state does not want to risk the flow of money if bitcoin has no assets or something to hold as a guarantee it will make finance a country happens inflation and even the monetary crisis.
my advice on bitcoin has a foundation that keeps him strong in terms of security, real and legal corporate forms that can control all the bitcoin activity as a bitcoin guarantee keeps it safe.
There's a lot of reasons why some countries doesn't want to use bitcoin. It couldis be the lack of internet in their area because we all know that bitcoin is related to it. Maybe it's the government who prevents to use it because they are afraid that they can't control it. Most of all is the security that they are thinking. my advice on bitcoin has a foundation that keeps him strong in terms of security, real and legal corporate forms that can control all the bitcoin activity as a bitcoin guarantee keeps it safe.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Hello there, yes, thats right many country did not support the implementation of having a bitcoin in there country but why?? they thinking that bitcoin is very risky and most of them saying that bitcoin is illegal. I heard some of them are declaring that if someone caught in using bitcoin, they will go to jail for 6-9 months. Actually, it is not fair for me because bitcoin is only giving us an opportunity to have some income and earn in by the use of bitcoin.
For current bitcoins can not perceived by society and the State. It is indeed reasonable because bitcoins can not be controlled by the State, and State rules is still unclear, so the presence of bitcoins is still regarded as a threat than as a useful thing.
Some countries is not supported bitcoin because they are not control bitcoin.they are afraid of national currency about competition with bitcoin.also many countries not have regulatory board to monitor bitcoin.
Because some countries are afraid of bitcoin, seeing in him competitor with national cryptocurrency and some are seeing problematic asset.
because every country has policies and regulations in managing their finances, some countries that do not give permission in the country because there are many other financial problems the state does not want to risk the flow of money if bitcoin has no assets or something to hold as a guarantee it will make finance a country happens inflation and even the monetary crisis.
my advice on bitcoin has a foundation that keeps him strong in terms of security, real and legal corporate forms that can control all the bitcoin activity as a bitcoin guarantee keeps it safe.
my advice on bitcoin has a foundation that keeps him strong in terms of security, real and legal corporate forms that can control all the bitcoin activity as a bitcoin guarantee keeps it safe.
because some countries can not guarantee bitcoin to account for all activities dealing with cashflow activities, if the country wants to do bitcoin activities in its country bitcoin must have a foundation such as having assets or the center of the company to guarantee all the risks that will occur in the future.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Bitcoin is an open currency built on the law of free market, it doesn't have restrictions to country, region or location, what am trying to say is that bitcoin cannot be restricted from being in a country despite the rules and regulations of the country it can't be fully kicked off, we all know that China banned bitcoin for months back but bitcoin is still bought in large quantity by the Chinese on peer to peer exchange and also on telegram
Nine years since the birth of Bitcoin, central banks around the world are increasingly recognizing the potential upsides and downsides of digital currencies.
what to do, if anything, about the growth of the private cryptocurrencies that are grabbing more and more attention for a host of reasons: security concerns after a $500 million exchange hack in Japan, volatile price moves and in the case of Bitcoin, at least their introduction on regulated derivatives exchanges. The second question is whether to issue official versions.So these types of reasons some countries do not support Bitcoin.
what to do, if anything, about the growth of the private cryptocurrencies that are grabbing more and more attention for a host of reasons: security concerns after a $500 million exchange hack in Japan, volatile price moves and in the case of Bitcoin, at least their introduction on regulated derivatives exchanges. The second question is whether to issue official versions.So these types of reasons some countries do not support Bitcoin.
Most countries do not support bitcoins because they do not recognize them as part of their acceptable money so anyone can use them freely. I think the world needs more time to understand this technology and it will take a decade from now to get bitcoin in every part of the world. Thus Bitcoin is not supported in some countries because not many people use bitcoin in these countries.
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